Wellington Management Group LLP Acquires 1,782,984 Shares of Deere & Company (NYSE:DE)

Wellington Management Group LLP boosted its position in shares of Deere & Company (NYSE:DE - Free Report) by 32.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,352,465 shares of the industrial products company's stock after buying an additional 1,782,984 shares during the quarter. Wellington Management Group LLP owned approximately 2.69% of Deere & Company worth $3,068,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DE. Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after buying an additional 540,874 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company's stock valued at $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp increased its position in Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Balentine LLC bought a new position in Deere & Company in the 3rd quarter worth $710,000. Finally, Captrust Financial Advisors raised its holdings in Deere & Company by 2.7% in the 3rd quarter. Captrust Financial Advisors now owns 155,184 shares of the industrial products company's stock worth $64,763,000 after purchasing an additional 4,051 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 0.9 %

Shares of Deere & Company stock traded down $4.12 on Friday, reaching $444.00. The company's stock had a trading volume of 1,130,085 shares, compared to its average volume of 1,488,611. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The firm's fifty day simple moving average is $417.01 and its two-hundred day simple moving average is $389.92. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $121.48 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.95 and a beta of 0.96.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the company earned $8.26 EPS. Deere & Company's revenue for the quarter was down 32.8% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is an increase from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.46%. Deere & Company's dividend payout ratio is 22.97%.

Analyst Ratings Changes

Several equities analysts recently issued reports on DE shares. Truist Financial boosted their price target on shares of Deere & Company from $496.00 to $538.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price on the stock. in a report on Friday. Hsbc Global Res cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Finally, Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and a consensus target price of $440.50.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.